The Ministry of Investments and Foreign Trade hosted the 7th meeting of Uzbekistan – China Subcommittee on Trade and Economic Cooperation via videoconference.

According to Uzbekistan MIFT, the meeting from the Uzbek side was attended by the First Deputy Minister of Investments and Foreign Trade Aziz Voitov, senior officials of the MIFT and relevant ministries and agencies, and from the Chinese side – Deputy Minister of Commerce Yu Jianhua, representatives of sectoral ministries, agencies and financial organizations.

The parties discussed the state of trade and economic cooperation, current issues of the development of mutual trade, in particular, the participation of Uzbekistan delegation in China International Import Expo.

Opportunities for strengthening investment, technical and economic cooperation and deepening ties between the regions of the two countries were also considered.

The participants studied the documents submitted for signing during the meeting of Uzbekistan – China Intergovernmental Committee on Cooperation, including the Program for the 5-year development of trade, economic and investment cooperation between the governments of Uzbekistan and China.

In January-July 2021, Uzbekistan’s foreign trade turnover amounted to $21.6 billion, in which China holds first place - $4 billion (18.7% of the total). Compared to the corresponding period of 2020, trade with China increased by 16.9%, or $581.2 million.

China is at the same time the largest export market for Uzbekistan. In January-July this year, exports of goods and services to China showed an increase in comparison with the same period in 2020 by $287.6 million (+28.6%) and amounted to $1.3 billion, or 15.9% of the total volume export of Uzbekistan.

UzA